24,000 Shares in Mueller Industries, Inc. (NYSE:MLI) Acquired by Chase Investment Counsel Corp

Chase Investment Counsel Corp purchased a new position in shares of Mueller Industries, Inc. (NYSE:MLI) in the 4th quarter, Holdings Channel reports. The firm purchased 24,000 shares of the industrial products company’s stock, valued at approximately $1,131,000.

Other large investors also recently bought and sold shares of the company. Beaird Harris Wealth Management LLC acquired a new stake in shares of Mueller Industries during the 3rd quarter worth $30,000. Fifth Third Bancorp lifted its stake in Mueller Industries by 124.3% in the fourth quarter. Fifth Third Bancorp now owns 527 shares of the industrial products company’s stock valued at $25,000 after buying an additional 292 shares during the last quarter. Larson Financial Group LLC boosted its stake in Mueller Industries by 100.0% during the 4th quarter. Larson Financial Group LLC now owns 598 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 299 shares during the period. Adirondack Trust Co. acquired a new position in shares of Mueller Industries during the third quarter worth approximately $45,000. Finally, NBC Securities Inc. bought a new position in Mueller Industries in the 3rd quarter worth approximately $52,000. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Wall Street Analyst Weigh In

MLI has been the subject of a number of analyst reports. StockNews.com lowered Mueller Industries from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd. Northcoast Research reiterated a “neutral” rating on shares of Mueller Industries in a research report on Friday, January 19th.

Insider Activity at Mueller Industries

In other news, Director John B. Hansen sold 4,000 shares of the stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $57.29, for a total value of $229,160.00. Following the completion of the sale, the director now directly owns 104,214 shares of the company’s stock, valued at $5,970,420.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Jeffrey Andrew Martin sold 47,280 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $49.25, for a total value of $2,328,540.00. Following the completion of the sale, the chief financial officer now directly owns 370,840 shares in the company, valued at approximately $18,263,870. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John B. Hansen sold 4,000 shares of the stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $57.29, for a total value of $229,160.00. Following the transaction, the director now owns 104,214 shares in the company, valued at approximately $5,970,420.06. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,280 shares of company stock valued at $2,804,350. Company insiders own 2.80% of the company’s stock.

Mueller Industries Trading Up 1.1 %

NYSE:MLI traded up $0.64 during mid-day trading on Monday, reaching $57.97. 176,282 shares of the stock were exchanged, compared to its average volume of 679,195. The business has a fifty day moving average price of $52.44 and a 200 day moving average price of $47.14. Mueller Industries, Inc. has a 1-year low of $34.96 and a 1-year high of $59.59. The firm has a market capitalization of $6.59 billion, a PE ratio of 11.49 and a beta of 1.08.

Mueller Industries (NYSE:MLI) last announced its earnings results on Tuesday, February 6th. The industrial products company reported $1.05 EPS for the quarter. The business had revenue of $732.38 million during the quarter. Mueller Industries had a return on equity of 24.69% and a net margin of 17.22%.

Mueller Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.20 per share. This is an increase from Mueller Industries’s previous quarterly dividend of $0.15. The ex-dividend date was Thursday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.38%. Mueller Industries’s payout ratio is currently 16.03%.

Mueller Industries Profile

Mueller Industries, Inc manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, South Korea, the Middle East, China, and Mexico. It operates through three segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment offers copper tubes, fittings, line sets, and pipe nipples.